PocketLaw | US Virgin Islands Code | Economic Development Program

Economic Development Program

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Declaration of policy—Purpose—Contractual nature

Short title

Definitions

Additional definitions

Virgin Islands Economic Development Commission

Powers and duties of Commission

Appointment of Director; salary, supporting personnel [Repealed]

Powers and duties of Director

Specific requirements for granting of benefits

Fees; application, compliance

Small Business Program

Tax credits or benefits for clean up and redevelopment activities

General guidelines to be applied by Commission

Discrimination; hearing; certificate revocation

Employment of residents—Temporary permits

Powers and duties of Commissioner of Labor

Training of employees

[Renumbered.]

Tax exemptions; tax subsidies; benefit options

Income tax reduction

Customs duty reduction

Exemption and partial exemption of tax on interest and dividends; withholding

Tax exemptions for the production of affordable housing

Virgin Islands Building Contractors Incentive Program

Special provisions or limitations

Extended tax benefits for producers of Virgin Islands rum

Extended tax benefits for Virgin Islands processors and producers of milk and milk products

Extended benefits for watch and jewelry manufacturing and assembly business

Certificate modifications, extensions or renewals; reopening of industries

Applications to Director; report to Commission

Action by Commission; public hearings

Action by Governor and Commission [Repealed]

Contents of certificate

Transferability Voluntary Termination

Computation and determination of subsidy

Limitation of claims or deductions

Revocation, suspension or modification of certificate

Penalty for violations

Appeals

False or fraudulent statements or representations; false claims for benefits

Industrial Promotion Fund